Approved Vysya Bank Housing Finance Ltd., Bangalore u/s 36(1)(viii) - 522 - Income Tax

Approved Vysya Bank Housing Finance Ltd., Bangalore u/s 36(1)(viii) NOTIFICATION NO. 522 DATED 10-1-1999 It is notified for general information that "Vysya Bank Housing Finance Ltd., Bangalore", has been approved by the Central Government for the purposes of section 36(1)( viii ) of the Income-tax Act, 1961, for the assessment years 1999-2000 to 2001-2002. 2. The approval is subject to the condition that: ( i ) the company continues to have the main object of carrying on the business of providing long-term finance for construction or purchase of houses for residential purposes during the period for which this notification is in force ; ( ii ) the company submits every year a copy of its audited profit and loss account and balance-sheet along with a statement of deduction claimed under this section before its due date for filing return of income under section 139(1) of the Income-tax Act, 1961 ; ( iii ) the special reserve as required under the Income-tax Act is created and maintained ; and ( iv ) all other conditions contained in section 36(1)( viii ) of the Income-tax Act, 1961 are fulfilled. [Notification No. 10784/F. No. 204/29/98-ITA-II]